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Saturday, November 19, 2011

Betting on Energy Flops Over Energy Successes

Chris Horner is reporting in the right circumstances, clean energy investors can make more money with a flop than with a success. Perhaps Tulsa's George Kaiser used this scheme when he sunk $337 Million into the failed Solyndra, and arranged for first access to liquidation funds in bankruptcy court, ahead of American taxpayers. Perhaps Obama understands this well, and perhaps the huge recent loans to fledgling energy companies (after Solyndra) will provide Obama donors with big tax write-offs, and Obama with funds to slay our nation.

So it was with great amusement that I caught, on my flight back this weekend, some art imitating life in a spectacularly appropriate way. Accountant Leo Bloom revealed to producer Max Bialystock, “under the right circumstances, a producer could actually make more money with a flop than he can with a hit”. Voila! There you have, in a Broadway second, President Obama’s ‘clean energy’ agenda.Government Electric – once a bastion of American genius now fallen to being no more than a government front company – and the rest of the ‘renewables’ Music Men (to note another apt vehicle) are the Bialystock and Bloom of policy. They seek to make their fortune by producing flops. But since their ‘markets’ are arranged by pals in government and not due to performance, it works. That’s the beauty of it.

Horner on Obama's investment - a "pledge" to "seal our bankruptcy:"

Obama’s wind and solar boondoggle so far includes – according to his own Council on Economic Advisors – $90 billion in ‘green energy’ stimulus spending for 190,000 inherently temporary jobs (think: census job, as each lasts only so long as the state support, meaning it is yet another state-created bubble). That is $450,000 per job. The pledge to create’ millions of such jobs at your expense is a vow to seal our bankruptcy.

Renewables are the most expensive way for all of its constantly shifting excuses, including a) to produce energy, b) to create jobs and c) to reduce emissions. And pouring money into centuries old technology as state-picked ‘winners’ delays rather than expedites tech development and advancement.
There is much more in Horner's article posted at BigGovernment, including information on Newt Gingrich's fondness for solar and wind.